ANALYSIS: Fresh Seafood Imports Decline as Prices Surge to Near Record Highs

Demand: In 2024, consumers faced a host of economic challenges that reshaped purchasing behaviors across various sectors, including the seafood market. Rising inflation, coupled with stagnant wage growth, forced many households to tighten their belts and prioritize essential spending. This financial strain led to a noticeable decline in interest for higher-priced, perishable items like fresh seafood. As families adjusted their budgets, more affordable protein sources became preferable, diminishing the demand for seafood products and impacting the industry significantly...

Russian Fish Industry Warns of Profit Decline, Calls for Tax Relief Amid Rising Export Duties

Leading Russian fish producers have once again called on the state to reduce the industry's tax burden, which has led to a serious decline in the profitability of the country's fish sector.

According to the latest predictions of the Russian Association of Fishing Fleet Owners (AFFO), the operating profitability of marine fisheries in Russia next year may decrease from the current 7% to 2% if the current export duties (which are based on the rouble’s exchange rate) are maintained...

Law Firm Investigating Data Breach of Seafood Distributor True World Holdings

A law firm said it was investigating a data breach involving True World Holdings, the parent company of  major seafood distributor True World Foods.

True World Holdings filed a notice of data breach with the Attorney General of Maine. The law firm Federman & Sherwood said True World was impacted by a cybersecurity incident involving their computer system on August 23, 2024.

When made aware of the breach, True World immediately launched an investigation. The information gathered indicated that certain individuals’ personal and sensitive information was exposed and/or acquired...

Japan: September Imports Dropped by 5% to 164,000 MT, Value Down by 6% to JPY 146 Billion

According to trade statistics released by the Ministry of Finance on October 30, the volume of fishery product imports in September (preliminary figures, fish and shellfish and their preparations, fishmeal and seaweed) was 163,968 tons, down 5% from the same month last year. Imports of major species such as fresh and frozen tuna, salmon and trout, and shrimp decreased. Imports of squid, crab, and octopus increased. The value was 146,478 million yen ($955.68 million), down 6%. Minato Shimbun described the details as...

Trace Register Partners with Foa & Son to Offer Insurance Incentive for the Seafood Industry

Trace Register, a company in the seafood traceability sector, announced a partnership with Foa & Son International Insurance Brokers.

Trace Register said that the new team-up will see Foa & Son provide its customers with a unique incentive for Product Contamination & Recall Insurance.

Working with a preferred provider that typically offers a 10% premium credit for pre-crisis consultation services, this new offer will allocate 5% of the premium or half of that budget directly toward Trace Register seafood traceability subscription costs...

The Retail Rundown: Late-Season Push for Grilling Cuts

As October ends, beef and seafood promotions are neck and neck, each occupying about 25 percent of total advertising space. During the final week of "Pork-tober, pork features account for 20.8 percent of buying opportunities, closely followed by chicken at 20.6 percent.

Though the shift from grilling cuts to roasts has been in motion for a few weeks, a forecast of record warmth in parts of the central and eastern U.S. this week offers a last chance for backyard cooking before winter sets in.

This could spur late-season promotions...

MSC Launches Improvement Program to Combat Overfishing with Incentives for Fisheries

The Marine Stewardship Council (MSC) debuted its MSC Improvement Program in hopes of addressing the recent rise in overfishing. The group said it would offer fisheries support and incentives, provided they make measurable improvements over a five-year period. The improvements will be guided by an action plant that is independently verified, according to the MSC.

The MSC has grown concerned about the increased overfishing marks, with nearly 38% of global fish stocks overfished, per UN data.

Amanda Lejbowicz, MSC’s Head of Fishery Standard Accessibility, said: “The MSC works...

Alaska Pollock Group At-Sea Processors Association Announces Leadership Transition

The At-sea Processors Association (APA), a trade group within the Alaska pollock industry, announced that its Executive Director, Stephanie Madsen, will retire at the end of the year.

Madsen has been at the helm of the APA since 2007 and has spent nearly 50 years working with the Alaska fishing industry. Madsen started her career working with fishing industry leaders in Unalaska over 40 years ago. She served a pair of terms on the North Pacific Fishery Management Council, serving as the first woman Chair and also as...

Russia to Cut Fish Exports to EU Amid Sanctions and Market Shift

Russia will continue to reduce fish exports to the EU region this year and in 2025 due to the ever-growing pressure from sanctions and the ongoing reorientation to the East.

In 2023, Russia exported fish and fish products to EU countries — mostly fillets as well as minced pollock and cod – for a total sum of US$768 million. About 95% of such shipments accounted for white fish.

Fish products from Russia and China, made from Russian raw materials, account for more than 80% of all...

ADF&G: Prince William Sound Pink Salmon Season is Worst Since 1993

The Alaska Department of Fish and Game’s summary of the 2024 salmon season in Prince William Sound was released on October 23, underscoring the alarmingly low return on pink salmon.

The 2024 season marked the worst pink salmon harvest since 1993 and the second worst since the late 1970s when PWS hatcheries were established. This year’s forecast for pink salmon in the Sound was a total run of 32.18 million fish, made up of 15.53 million returning to the Valdez Fisheries Development Association’s (VFDA’s) Solomon Gulch hatchery and 10.20 ... 

Norway Boosts 2025 Snow Crab Quota

Norway’s Ministry of Trade and Fisheries announced an increase in the 2025 snow crab quota to 12,725 metric tons. This marks a notable jump of 2,425 metric tons compared to the recommended total quota in 2024.

The quotas fall in line with recent recommendations made by Norway’s Institute of Marine Research (IMR).

“It is gratifying that we will get an increase in the snow crab quota in 2025. When several of the fishing quotas are otherwise going down, we have to be happy about the arrows pointing upwards,” said Fisheries and Oceans Minister...

Hannaford Supermarkets Recalls Private Brand Seafood Salad Due to Mislabeling

Hannaford Supermarkets recalled its private brand, Original Seafood Salad, due to misbranding. The item was available at the deli department of Hannaford locations.

The 12 oz. Original Seafood Salad, purchased between Saturday, October 26, and Tuesday, October 29, 2024, may be missing the “soy” allergen specification on its label. Per a recall notice posted on Hannaford's website, the sell-by dates are November 13 and 14, 2024.

Customers should check their storage and freezer areas for this product and not eat the product...

California Draft MPA Revisions Available After First Decadal Review

It’s been more than 10 years since California established its network of marine protected areas and the Decadal Management Review report was completed in 2022. Now the state’s looking to update or change its MPAs based on public input.

In February, the California Fish and Game Commission referred 20 marine protected area petitions to the California Department of Fish and Wildlife for review, evaluation, and recommendation.

CDFW developed a draft three-phase approach ­­­to evaluate ...

A Tu Gusto, LLC Recalls Frozen Croquette Products Produced Without the Benefit of Inspection 

A Tu Gusto, LLC, a Lehigh Acres, Fla. firm, is recalling approximately 7,630 pounds of frozen meat and poultry croquette products that were produced without the benefit of federal inspection and may contain undeclared allergens, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today. The product contains soy, sesame seed and wheat, known allergens, which are not declared on the product label.

The frozen meat and poultry items were produced between April and October of 2024... 

Cousins Maine Lobster Continues Expansion in Illinois

Cousins Maine Lobster announced that it will debut its fourth food truck in the Northern Illinois region this weekend.

The newest truck marks another partnership with franchisees Yunus and Thameem Shahul, who landed a multi-unit deal for the market back in November 2023.

Cousins Maine Lobster shared that the Shahul brothers joined CML as franchisees in 2018 and now have 18 units open and operating across multiple territories, with more to come. SeafoodNews covered the brand’s recent expansion in Florida, which was also led by the Shahul brothers...

Duty-Free Exports to China Spark Optimism for Bangladesh’s Shrimp Sector

According to a report from Seafood Network Bangladesh, the Bangladesh seafood industry, specifically its black tiger shrimp exporters, hopes to reap the benefits of the country’s upcoming zero tariff status with China.

Back in September, China decided to grant zero tariff treatment for all of Bangladesh’s exports to China, per an announcement from China’s Embassy in Bangladesh. The new tariff status will go into effect on December 1, 2024, and the Bangladesh shrimp industry is excited to have improved access to one of the world’s top markets for...

PWS Herring Stocks Still Low, But at Highest Levels in 25 Years, So Fall and Spring Fisheries To Open

The Alaska Department of Fish and Game (ADF&G) announced last week that the Prince William Sound 2024 spawning biomass estimate is at 35,485 short tons, above a 22,000 short ton threshold needed to open any herring fishery in Prince William Sound. This level is enough to open commercial fisheries at a conservative 10% exploitation rate, creating a Guideline Harvest Limit of 3,549 tons.

That is to be allocated between five fisheries managed annually that now starts July 1 and ends ...